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Educational News

US Supreme Court to review President Biden’s student debt plan

The US Supreme Court has agreed to review the legality of President Joe Biden’s plan to cancel student loan debt for millions of borrowers. The programme will remain on hold until the case is heard, the court has announced. In…
Government News

Mortgage rates fall for the third week in a row as inflation fears ease

CNN —  Mortgage rates dipped again this week, marking the third straight week of falling rates. The 30-year fixed-rate mortgage averaged 6.49% in the week ending December 1, down from 6.58% the week before, according to Freddie Mac. A year ago, the…
Editorial News

US creditors can now DM debtors on social media

Debt collectors are now allowed to contact Americans on social media and by text message, according to new rules enacted by a US agency this week. The rule from the Consumer Financial Protection Bureau (CFPB) opens the door for creditors…
Bankruptcy News

Credit card debt is getting more expensive—here are 3 steps to help pay it off quicker

It’s getting more expensive to pay down credit card debt. The average interest rate on new credit card offers is now nearly 23%, according to LendingTree’s latest analysis. That’s up from about 22.4% in November. “Credit card interest rates are as…
Legal News

A phantom debt collection scam duped consumers out of more than $1 million. Here are 5 ways you can avoid falling victim

Almost 2,000 consumers who were conned into paying debts they didn’t owe are in the process of getting their money returned to them. More than $1 million, or an average of $516 for each payment, is being returned to the…
Educational News

‘Young adults are particularly vulnerable to delinquencies’ — 1 in 5 have debt in collections, new report finds

Americans across the board are struggling with credit card debt. Those just starting out are particularly vulnerable. With limited financial resources, lower wages and shorter credit histories, young adults are struggling to manage high-interest debt more than other age group,…
Government News

Credit card debt in the U.S. hits all-time high of $930 billion—here’s how to tackle yours with a balance transfer

Credit card debt hit a record high of $930 billion for Americans in the final quarter of 2019, according to the latest data from the Federal Reserve Bank of New York released on Feb. 11. That’s a $46 billion increase in credit…
Legal News

CFPB Protecting Borrowers’ Control Over Their Money

As the economy recovers from the global pandemic, American families and businesses are experiencing higher prices as well as higher interest rates. This includes the interest rates for some credit cards. More than 175 million Americans have at least one…
Editorial News

How to Negotiate with Debt Collectors

Whether you owe a debt or not, getting a phone call from a debt collector is never a pleasant experience. And it’s one that may be happening more frequently in recent months. The hiatus that some states and companies put on debt…
Government News

There are 7,060 collections agencies in the U.S.—here’s what to do you if your credit card debt is sent to one

Collections agencies buy your unpaid credit card debt from your card issuer when your balance lingers too long — but that doesn’t mean it goes away. When a collections representative from your credit card issuer calls you, it’s usually because…